Infomina Posted Revenue of RM41.9 Million for 1QFY2023, with Outstanding Orderbook of RM443.6 Million

(photo credit: iSaham)

The regional technology solutions provider has announced its first quarter financial results for the three months ended August 31, 2022 (1QFY2023).

Its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia is slated to take place on the November 25, 2022.
During the quarter under review, Infomina posted revenue of RM41.9 million and a profit before tax (PBT) of RM5.8 million.
The bulk of the revenue for the said quarter was mainly contributed by the Group’s technology infrastructure operations, maintenance, and support services segment which made up RM29.5 million or 70.3% of total revenue. This segment mainly consists of revenue recognised from the Group’s contract for the provision of core banking applications for financial services institutions in the Philippines and Thailand.
“This is a commendable set of results to kickstart the financial year and our journey as a listed company. We achieved revenue of RM41.9 million and a PBT of RM5.8 million. Notably, the performance of the technology infrastructure operations, maintenance, and support services segment was driven by our contracts in the Philippines and Thailand,” Managing Director of Infomina, Yee Chee Meng said, 
“Looking ahead, our performance will be driven by an outstanding orderbook of about RM443.6 million comprising of a well-diversified portfolio of over 60 active clients across multiple industries and geographical locations including Malaysia, Singapore, Thailand, Philippines, Indonesia, Hong Kong, China and Taiwan,” he elaborated.
The IPO exercise of this company will raise up to approximately RM32.47 million via a public issue of 81,168,800 new ordinary shares at an issue price of RM0.40 per IPO share. RM13.96 million or 43.0% of the proceeds will be used for working capital and RM7.60 million or 23.4% to strengthen R&D capabilities. In addition, RM5.53 million or 17.0% will be put towards regional expansion whilst RM0.89 million or 2.7% will be used for branding, marketing and promotional activities. The remaining RM4.5 million or 13.9% will be to defray listing expenses.
M & A Securities is appointed as the Adviser, Sponsor, Underwriter and Placement Agent, while Newfields Advisors is the Financial Adviser for Infomina’s IPO exercise.

Previous articleBursa Malaysia Securities Publicly Reprimands TA Securities Holdings Berhad for Flouting Requirements
Next articleSC: Four Individuals Charged With Money Laundering Of Over RM7.2 Million


Please enter your comment!
Please enter your name here